No doubt, many of us have been there. The bank's ATM isn't working, so you go down the street and use another's. Well, hold onto that wallet, that quick stop likely came at a price. In fact many customers usually end up paying two bank fees when withdrawing money at another bank's ATM. Our partners at Consumer Reports say one bank is cutting these fees and much more.

Washington Mutual Bank has decided its advertising campaign will be aimed at making fun of traditional banks by pointing out that they have done away with many of the standard banking fees while others are looking to charge more.

Consumer Reports Money Adviser's Andrea Rock checked out the bank's offer and found that what sounds too good to be true is both true and good.

"Washington Mutual is bucking the banking industry trend by charging fewer fees. It's a bold move," Rock said.

For one, Washington Mutual won't charge you if you use another bank's ATM.

"Now you will have to pay the other bank's ATM fees, but there are no Washington Mutual fees. Few banks do this. That can add up to a real savings," said Rock.

In addition to not charging ATM fees, Washington Mutual is also offering free checking, three cents back on each debit-card purchase, and a break on bounced checks, you get one each year without any penalty. The offer is available online at Washington Mutual.com to anyone with a U.S. address.

"What Washington Mutual is trying to do is get people in the door to do more business with the bank, such as credit cards or loans," Rock said.

The Washington Mutual offer also includes no charges for outgoing wire transfers along with the free checking.

But one banking analyst tells Consumer Reports that those two giveaways aren't such big benefits because people don't do wire transfers very often and the are writing fewer checks.

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